Jansen says farmland which supports the beef industry, such as pasture and hay land, rose in value the past year, sometimes by as much as 10%.

“Whereas the dry land or irrigated cropland declined on average across the state around 5-10% depending upon where you were at,” Jansen tells Brownfield Ag News.

Pasture land rose between 10 and 15% statewide.

Cropland took a hit over the previous 12 months.

“There are a few cases where the decline was very modest, but on average it was around 5-10% across the state of Nebraska for dryland cropland, irrigated cropland, and center-pivot irrigated cropland,” according to Jansen.

Rental rates for land set aside for grazing and haying rose between 10 to 30% over that 12-month period.

Even with the overall setback in farmland values, the average acre of agricultural land in Nebraska has risen 34% since 2012 and 116% since 2010.